With the approval of the municipal task force for cultural sector institutional reform, Chongqing Performance Arts Co., Ltd., in strict accordance with relevant provisions on the administration of state-owned assets, orderly pushed forward the mixed-ownership reform and joint-stock reform, worked with strategic investors and transformed the company from a limited liability company to a joint-stock limited company, with the full name changed from "Chongqing Performance Co., Ltd." to "Chongqing Performance Arts Co., Ltd." according to law. The smooth progress on the mixed-ownership reform and shareholding reform has ushered the company into a new stage of strategic development and a big step toward the target of going public.